APMT TCB acquisition shuts out Chinese

Both companies, it is suggested, are interested in gaining a presence in the port’s new expansion area. However, priority when allocating resources there will be given to incumbent operators, such as Grup TCB’s TCV Stevedoring, which now forms part of APM Terminals.

Commenting on the reasons for the purchase, Joe Nicklaus Nielsen, APMT’s vice president, Port Investments, noted: “Our acquisition of Grup Maritim TCB reflects our growth strategy and the opportunity to add 11 terminals in six countries to our global portfolio, including Valencia, but also major terminals and developments in Barcelona, Guatemala and Colombia, for instance.

“We are impressed with the people; entrepreneurial culture and leadership of Grup Maritim TCB whom we can learn from and help make us better in all these markets.”